Guideline Value for Block 17 Ottukara Chinnaian Street

Block 17 Ottukara Chinnaian Street guideline value

The current guideline value for Block 17 Ottukara Chinnaian Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 17 Ottukara Chinnaian Street has changed

The guideline value for Block 17 Ottukara Chinnaian Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 461 per sq.ft. It increased to Rs 517 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 750 per sq.ft in 2007, which was a 45% increase from the previous year. However, in 2012, the value dropped to Rs 1,000 per sq.ft, reflecting a 33% decrease. The guideline value remained at Rs 1,000 per sq.ft in the 2017 revision, before rising to Rs 670 per sq.ft in the same year, which was a 49% increase. The most recent revision in 2023 set the guideline value at Rs 1,000 per sq.ft, followed by the current figure of Rs 1,100 per sq.ft in 2024, indicating a 10% increase.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, which places the guideline value of Block 17 Ottukara Chinnaian Street below that median.

• Block 17 New Masjith Street: Rs 2,750 per sq.ft (2024)
• Block 17 Park Street: Rs 2,750 per sq.ft (2024)
• Block 17 Bhavani Street: Rs 1,375 per sq.ft (2024)
• Block 17 A.P.Thangavel Chettiar Street: Rs 2,750 per sq.ft (2024)
• Block 18 Cauvery Road Main Road: Rs 5,500 per sq.ft (2024)
• Block 18 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 Ottukara Chinnaian Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 17 Ottukara Chinnaian Street?

The Sub Registrar Office that covers Block 17 Ottukara Chinnaian Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Ward C

The guideline value is a crucial factor in property transactions in Ward C, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value helps in establishing a baseline for the property's worth, which can aid in negotiations and finalizing the sale.

Frequently asked questions

What is the current guideline value of Block 17 Ottukara Chinnaian Street?

The current guideline value of Block 17 Ottukara Chinnaian Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 461 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 139% over the years.

What is the registration office for Block 17 Ottukara Chinnaian Street?

The registration office for Block 17 Ottukara Chinnaian Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.

What other streets are in Ward C with different guideline values?

In Ward C, there are several other streets with varying guideline values. For instance, Block 17 New Masjith Street and Block 17 Park Street both have a guideline value of Rs 2,750 per sq.ft in 2024.